Why is Fantom Surging This Month?

Why is Fantom Surging This Month?

NAIROBI (Coinchapter.com) – Fantom’s FTM token surged by over 165% in the last month, a performance that has captured the attention of the cryptocurrency market. This bull run coincides with the network’s preparation for its upcoming Fantom Sonic upgrade. The upgrade is poised to enhance transaction processing speeds and finality times, elements crucial for blockchain efficiency.

Fantom Surge Responds to Upgrades With Sonic

Blockchain networks, like Fantom, face the challenge of scalability. As the number of users and transactions on a network increases, transaction processing times can slow down, and fees can rise. This can hinder user experience and adoption. Fantom Sonic has been designed to address these scalability concerns.

The upgrade will introduce a new virtual machine, improved storage solutions, and an optimized consensus mechanism. These advancements are expected to significantly enhance the network’s transaction processing throughput and finality times.

The Fantom Foundation took to Twitter to share the staggering results from its Sonic testnet. The network demonstrates incredible potential for unparalleled transaction speeds and finality times. Notably, the testnet achieved a blistering 2,000 transactions per second (TPS) with a 1-second time-to-finality (TTF) under realistic traffic conditions.

Fantom Sonic Testnet

Moreover, it handled a whopping 4,000 TPS (1.3s TTF) for ERC-20 token swaps and an incredible 10,000 TPS (1.6s TTF) for ERC-20 transfers. These figures undoubtedly fuel investor enthusiasm, as the Sonic mainnet promises to revolutionize the Fantom ecosystem’s performance and scalability.

Fantom’s March surge certainly shows market optimism for the Sonic upgrade. Clearly, as the network prepares to transition, immense potential for growth and adoption exists. The Fantom Foundation’s focus on improving efficiency is paying off, positioning Fantom as a major player in next-gen blockchain technology. Above all, with the mainnet launch coming soon, the crypto community eagerly awaits a new chapter for Fantom.